Movers and Shakers: Somnus Sees Wider Loss 10-7-98

CBS.MarketWatch.com

} Somnus
somn
sees wider loss By CBS MarketWatch Last Update: SCREAMERS: Veritas Software (VRTS)
VRTS, -1.36%
shares fell 19 13/16 to 26 3/16 after the company said it will issue 32.9 million new shares worth $1.6 billion to acquire the software unit of Seagate Technology (SEG)
SEG, +0.00%
. Veritas said the deal will close by January and will create one of the largest makers of storage management software. See Screamers.

U.S. stocks to watch

Advanced Micro Devices (AMD)
AMD, -0.44%
reported a third-quarter profit of 1 cent a share compared to a loss of 22 cents a year ago. Analysts estimates, from several resources such as First Call, ranged from a loss of 18 cents to a loss of 11 cents. Shares closed up 1 1/2 to 19 7/8 ahead of the news. See full story.

Music retailers CDNow (CDNW)
cdnw
and N2K (NTKI)
ntki
are planning to consolidate, creating the industry's largest music site, the Wall Street Journal reported.

Customer interactive software developer Information Management (IMAA) said it expects third-quarter earnings per share of between 17 cents and 19 cents, excluding a charge. The First Call consensus estimate is 13 cents per share. Shares closed up 1/8 to 5 5/8.

Intimate Brands (IBI)
IBI, -3.74%
said sales at stores open more than a year rose 5 percent for the five weeks ended October 3. Intimate Brands sells lingerie and personal care products through under the Victoria's Secret and Bath & Body Works brands.

Somnus Medical Technologies (SOMN) said it expects third-quarter losses to be in the range of 30 cents to 35 cents per share. First Call analysts expected a loss of 26 cents per share. Shares rose 1/2 to 2 5/8, ahead of the news.

Symantec(SYMC) said it anticipates a second-quarter profit of 18 cents a share, excluding a one-time charge, compared to the Wall Street consensus estimate of 41 cents a share. The company also stated second-quarter revenue will be 10 percent below what analysts expected. Shares were halted down 3/8 to 10 9/16. See Software Report.

U.S. decliners

AmerUS Life Holdings(AMH) shares fell 4 1/4 to 14 7/16 after the company said it expects its third-quarter earnings to be 33 cents to 37 cents a share. Analysts expected a profit closer to 58 cents a share prior to the warning.

Medical device manufacturer Horizon Medical Products (HMPS) fell 3 3/8 to 2 1/16 after the company said third-quarter earnings will be about 6 cents a share, half the consensus estimate of 12 cents a share.

Shares of Internet software provider Isocor (ICOR)
icor
fell 3/8 to 1 13/16 after the company said it sees a loss in its third quarter that's significantly bigger than the year-ago quarter's loss of 11 cents per share. The current First Call consensus estimate is a loss of 7 cents per share.

Legato (LGTO) shares dropped 8 7/8 to 31 1/8 on concerns that a megamerger in the storage management software market will hurt the company. Gibbs Moody, an analyst at Warburg Dillon Read, cut his rating on Legato to "hold" from "buy" after rival Veritas said it plans to spend $1.6 billion in stock to acquire the primary software division of Seagate (SEG)
SEG, +0.00%
.

Lycos (LCOS)
lcos
shares dropped 1 13/16 to 30 1/8 after the company announced its plan to buy Wired Digital for $83 million in stock, acquiring Wired's news, search engine and other multimedia brands. See full story.

Matria Healthcare (MATR) dropped 1/4 to 2 after it said it will miss the third-quarter consensus estimate of 13 cents a share. Earnings are projected to be about 6 cents a share, excluding one-time charges.

Maverick Tube (MAVK) fell 5/16 to 5 11/16 after it said it will record a fourth-quarter charge of 7 cents a share for a write-down of computer software. Earnings for the quarter will be near break-even due to low sales and production of its energy-related products. The consensus estimate on Wall Street is a profit of 3 cents a share

Shares of office-supply superstore OfficeMax (OMX) fell 7/8 to 7 7/8 after it said its third-quarter earnings will miss the current Wall Street estimate of 31 cents a share. See full story.

Quaker Oats (OAT)
oat
fell 3 3/8 to 61 1/8 after analyst William Leach at the investment firm Donaldson, Lufkin & Jenrette lowered his ratingto "market perform" from "buy" but raised his 1998 earnings estimate by 5 cents a share. See full story.

The Sports Authority (TSA)
TSA, +3.32%
fell 1 1/16 to 5 11/16 after it said it will take a third-quarter charge of $1.72 a share. The company also said it sees a third-quarter loss, excluding the charge, of 27 cents to 32 cents a share. See full story.

Viasoft (VIAS)
vias
fell 5/16 to 4 after it said it will lose 4 cents to 8 cents per share in its fiscal first quarter because of charges. Analysts had estimated earnings at 21 cents per share. The company makes mainframe software for year 2000 date conversion products.

Zomax Optical Media(ZOMX) fell 5 7/16 to 4 11/16 after the company said third-quarter earnings will fall short of the 20 cent consensus estimate on Wall Street. Third-quarter earnings will be 10 cents to 12 cents a share.

U.S. advancers

Electronic enclosures and industrial tools manufacturer Applied Power (APW) rose 2 5/8 to 23 3/8 after it said that, excluding previously announced fourth-quarter one-time charges, its earnings for the fourth quarter were 53 cents a share. This represents a 29 percent increase over the 41 cents per share earned in the fourth quarter of fiscal 1997.

Level One Communications(LEVL) rose 5/8 to 18 15/16 after reaching a settlement agreement on pending patent litigation with Seeq Technology (SEEQ). The companies did not reveal the terms of the agreement, but Seeq said it will take a one-time charge of between 13 cents and 14 cents in the fourth quarter for the settlement.

Motorola (MOT)
MSI, -0.52%
shares rose 3 3/16 to 41 3/4 after the company said its third-quarter earnings had topped Wall Street's estimate. The electronics giant earned 7 cents a share, excluding one-time items, compared with the consensus estimate of 1 cent a share. See full story.

Wal-Mart (WMT)
WMT, -1.85%
rose 2 1/4 to 59 1/2 after it said sales at stores open more than a year rose 9.5 percent in September. See full story.

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